LA SEORA JUANA VELASQUES TIENE UN PEQUEO NEGOCIO DE FOTOCOPIADORAS , YA QUE TIENE UN FAMIL

BRINDADO INFORMACION DE MERCADO DE LA SIGUIENTE MANERA: 1. HAY UNA POSIBILIDAD DE ASIGNAR UN E

QUE AMBIENTE UN PUESTO, CON UN PAGO DE ARRIENDO MENSUAL Y BRINDE SERVICIOS DE FOTOCOPIADO A L
FACULTAD. LOS GASTOS DE INSTALACIN SERIA LOS SGTES: PAGO DE PERMISO (s/. 200), OTROS GASTOS (S/.5
METALICO HA CLACULADO UNA INVERSIN DE S/.1500, MOVILIARIO (S./250), EL PAGO DE ALQUILER SIN I.R (S/3
ELECTRICIDAD (S./80). EL IR ES DE 5% QUE LO PAGA EL INQUILINO. SE PIDE CONSIDERAR LA INVERSION EN EQ
TRABAJO, SUELDOS, Y LOS DIVERSOS GASTOS NECESARIOS PARA OPERAR EL NEGIOCO YA QUE LA SEORA V
ELABORA UN FUJO DE CAJA Y VER SI LE CONVIENE INGRESAR AL NEGOCIO. EL PRECIO DE LA FOTOCOPIADOR
RENTABILIDAD EN TERMINOS ABSOLUTOS DEBE SER MAYOR A S/.300 PARA QUE SE AMINE A ENTRAR EL NEGOC

a) Ventas Lun-Vie. Sab. Lun-Mar. 8 a.m - 6 p.m

N Hojas/Hora 85 60 Sabados 9 a.m - 1 p.m
Precio del Fotocopiado Hoja 0.1

1 Semana
Das Lun. Mar. Mie. Jue. Vie.
Periodo 1 2 3 4 5
Cantidad Diaria 850 850 850 850 850
Valor Diario S/. 85.00 S/. 85.00 S/. 85.00 S/. 85.00 S/. 85.00

b) Salarios Mes
Empleados (1) S/. 750.00

c) Insumos Precio-Caja Unid.

Hojas S/. 92.00 1 Caja/Sem.
Cartuchos de tinta (Tonner) S/. 40.00 1 Dura para cada 30000 copias
Fotocopiadoras (1) S/. 3,000.00 1 Velocidad de 35 copias por minutos
Material de Trabajo (engrapador, perfora S/. 25.00
Vida Util 3 aos

1 Semana
Lun. Mar. Mie. Jue.
0 1 2 3 4
COSTOS DE INVERSIN S/. 6,475.00 S/. - S/. - S/. - S/. -
Permiso del Local S/. 200.00 S/. - S/. - S/. - S/. -
Maquinaria S/. 4,000.00 S/. - S/. - S/. - S/. -
Diseo y Construccin del Local S/. 1,500.00 S/. - S/. - S/. - S/. -
Moviliario S/. 250.00 S/. - S/. - S/. - S/. -
Material de Trabajo S/. 25.00
Otros gastos (Licencia) S/. 500.00 S/. - S/. - S/. - S/. -
COSTOS DE OPERACIN S/. 1,494.00 S/. - S/. - S/. -
Alquiler Mensual S/. 300.00 S/. - S/. - S/. -
Electricidad Mensual S/. 80.00 S/. - S/. - S/. -
Gastos de Mantenimiento Mensual S/. 100.00 S/. - S/. - S/. -
Insumos Mensual S/. 132.00 S/. - S/. - S/. -
Papel Mensual S/. 92.00 S/. - S/. - S/. -
Tinta Mensual S/. 40.00 S/. - S/. - S/. -
Salarios Mensual S/. 750.00 S/. - S/. - S/. -

FLUJO DE CAJA DEL PROYECTO FOTOCOPIADORAS UNPRG

Periodo Mensual 0 1 2 3 4
INGRESOS S/. - S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00
Precio S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10
Cantidad 18200 18200 18200 18200
EGRESOS ### S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
Costos de Inversin S/. 6,475.00 S/. - S/. - S/. - S/. -
Costos de Operacin S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
FLUJO ### S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00
Depreciacin S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00
Flujo para impuestos S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00
Impuestos (IR=5%) S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05
Flujo despues de impuestos S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95
FLUJO ECONOMICO ### S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95
Factor de Actualizacin (1.02%) 1.00 0.99 0.98 0.97 0.96
### S/. 312.70 S/. 309.49 S/. 306.31 S/. 303.16

Periodo Anual 0 1 2 3 4
INGRESOS S/. - ### S/. 21,840.00 S/. 21,840.00 S/. 21,840.00
Precio S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10

Cantidad 218400 218400 218400 218400

COSTOS ### ### S/. 17,928.00 S/. 17,928.00 S/. 17,928.00

Costos de Inversin S/. 6,475.00 S/. - S/. - S/. -
Costos de Operacin S/. 17,928.00 S/. 17,928.00 S/. 17,928.00 S/. 17,928.00
FLUJO ### S/. 3,912.00 S/. 3,912.00 S/. 3,912.00 S/. 3,912.00
Depreciacin S/. 1,500.00 S/. 1,500.00 S/. 1,500.00 S/. 1,500.00
Flujo para impuestos S/. 2,412.00 S/. 2,412.00 S/. 2,412.00 S/. 2,412.00
Impuestos S/. 120.60 S/. 120.60 S/. 120.60 S/. 120.60
Flujo despues de Impuesto S/. 2,291.40 S/. 2,291.40 S/. 2,291.40 S/. 2,291.40
FLUJO ECONOMICO ### S/. 3,791.40 S/. 3,791.40 S/. 3,791.40 S/. 3,791.40
Factor de Actualizacin (13%) 1.00 0.88 0.78 0.69 0.61
### S/. 3,349.32 S/. 2,958.78 S/. 2,613.78 S/. 2,309.01

RPTA: EL PROYECTO DE LAS FOTOCOPIADORAS UNPRG PRESENTA UN FLUJO DE CAJA DONDE SE

PROYECTAN VENTAS EN UN PROMEDIO DE S/.85 DIARIOS DE LUNES A VIERNES Y LOS SABADOS CON S/.30
SOLES. PRESENTA COSTOS DE INVERSIN DE S/.6,475 Y COSTOS OPERATIVOS DE S/. 1,494 ; EN UN
PERIODO DE 5 AOS. (Se ha considerado realizar un Flujo de Caja mensual y anualmente). COMO RESULTADO
PRESENTA UN FLUJO ECONOMICO MENSUAL MAYOR A 300 SOLES, POR LO TANTO A LA SEORA JUANA
VELASQUEZ LE CONVIENE INCURSIONAR EN EL NEGOCIO DE LAS FOTOCOPIADORAS.

ADEMAS, SEGUN LOS INDICADORES ECONOMICOS TIENE UNA RENTABILIDAD (TIR) DEL 4.54% Y
MENSUALMENTE Y UNA RENTABILIDAD DEL 51% ANUALMENTE; CONSIDERANDOSE UN COK DEL 13%
SEGUN EL SECTOR DEL NEGOCIO. ADICIONALMENTE, PERIODO DE RECUPERACIN DEL CAPITAL ES EN 2
AOS Y 6 MESES, ES DECIR ECONOMICAMENTE ES RENTABLE.
S , YA QUE TIENE UN FAMILIAR EN LA UNPRG QUE LE HA
SIBILIDAD DE ASIGNAR UN ESPACIO EN LA FACEAC PARA
CIOS DE FOTOCOPIADO A LOS ALUMNOS DE LA
200), OTROS GASTOS (S/.500), UN CARPITENRO
O DE ALQUILER SIN I.R (S/300), CARGO FIJO DE
ERAR LA INVERSION EN EQUIPOS, MATERIAL DE
OCO YA QUE LA SEORA VELASQUES QUIERE QUE SE
CIO DE LA FOTOCOPIADORA ES DE 0.10. SE SABE QUE LA
AMINE A ENTRAR EL NEGOCIO

Mensual
Sab.
24 das
6
300 18200
S/. 30.00 S/. 1,820.00

Mensual
Vie. Sab.
24 das
5 6
S/. - S/. - S/. -

S/. - S/. - S/. -

S/. - S/. - S/. -

S/. - S/. - S/. -

S/. - S/. - S/. -

S/. - S/. - S/. -

S/. - S/. - S/. 1,494.00

S/. - S/. - S/. 300.00

S/. - S/. - S/. 80.00

S/. - S/. - S/. 100.00

S/. - S/. - S/. 132.00

S/. - S/. - S/. 92.00

S/. - S/. - S/. 40.00

S/. - S/. - S/. 750.00

1 Ao
5 6 7 8 9 10 11
S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00
S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10
18200 18200 18200 18200 18200 18200 18200
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. - S/. - S/. - S/. - S/. - S/. - S/. -
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00
S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00
S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00
S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05
S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95
S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95
0.95 0.94 0.93 0.92 0.91 0.90 0.89
S/. 300.04 S/. 296.96 S/. 293.91 S/. 290.89 S/. 287.90 S/. 284.94 S/. 282.01

5
S/. 21,840.00 TIR MENSUAL 4.54% VNA MENSUAL S/. 7,580.52

S/. 0.10

218400 TIR ANUAL 51.13% VNA ANUAL S/. 6,795.66

S/. 17,928.00
S/. - PERIODO DE RECUPERACIN DE CAPITAL
S/. 17,928.00
 S/. 3,912.00 FCE FCE
PERIODO FCE FAS
ACTUALIZADO ACUMULADO
S/. 1,500.00
S/. 2,412.00 1 3791 0.883 3349 3791
S/. 120.60 2 3791 0.780 2959 7583
S/. 2,291.40 3 3791 0.689 2614 11374
S/. 3,791.40 4 3791 0.609 2309 15166
0.54 5 3791 0.538 2040 18957
S/. 2,039.77
TIEMPO 2.4395923
MESES 0.43959
JA DONDE SE MESES 5.28
S SABADOS CON S/.30
/. 1,494 ; EN UN PAY BACK 2 AOS Y 6 MESES
). COMO RESULTADO
LA SEORA JUANA
INDICE DE RENTABILIDAD ECONOMICA 2.05
S.

EL 4.54% Y
N COK DEL 13%
DEL CAPITAL ES EN 2
 2 Ao
12 13 14 15 16 17 18
S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00
S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10
18200 18200 18200 18200 18200 18200 18200
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. - S/. - S/. - S/. - S/. - S/. - S/. -
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00
S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00
S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00
S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05
S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95
S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95
0.88 0.87 0.87 0.86 0.85 0.84 0.83
S/. 279.11 S/. 276.24 S/. 273.40 S/. 270.59 S/. 267.81 S/. 265.06 S/. 262.33

CALCULO DE LA COK DEL PROYECTO

Beta Desapalancado del sector: Servicios

Informtico 0.78
Beta del Proyecto (con la D/E y el IR del proyecto) 1.179
Rendimiento del bono del tesoro Americano a 5
aos 1.62%
TAL Prima por riesgo 8.45%
Riesgo Pas 1.62%
 FCE ACUMULADO COK PROYECTO ANUAL 13.20%
Y ACTUALIZADO
COK PROYECTO MENSUAL 1.04%
3349
6308
8922
11231
13271

2.05
2 Ao
19 20 21 22 23 24 25 26
S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00
S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10
18200 18200 18200 18200 18200 18200 18200 18200
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. - S/. - S/. - S/. - S/. - S/. - S/. - S/. -
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00
S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00
S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00
S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05
S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95
S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95
0.82 0.81 0.80 0.80 0.79 0.78 0.77 0.76
S/. 259.64 S/. 256.97 S/. 254.33 S/. 251.71 S/. 249.13 S/. 246.56 S/. 244.03 S/. 241.52
1.13
1.01
 3 Ao
27 28 29 30 31 32 33 34
S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00
S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10
18200 18200 18200 18200 18200 18200 18200 18200
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. - S/. - S/. - S/. - S/. - S/. - S/. - S/. -
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00
S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00
S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00
S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05
S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95
S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95
0.76 0.75 0.74 0.73 0.73 0.72 0.71 0.70
S/. 239.04 S/. 236.58 S/. 234.15 S/. 231.74 S/. 229.36 S/. 227.01 S/. 224.67 S/. 222.36
 4 Ao
35 36 37 38 39 40 41 42
S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00
S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10
18200 18200 18200 18200 18200 18200 18200 18200
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. - S/. - S/. - S/. - S/. - S/. - S/. - S/. -
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00
S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00
S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00
S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05
S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95
S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95
0.70 0.69 0.68 0.68 0.67 0.66 0.65 0.65
S/. 220.08 S/. 217.82 S/. 215.58 S/. 213.36 S/. 211.17 S/. 209.00 S/. 206.85 S/. 204.72
4 Ao
43 44 45 46 47 48 49 50
S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00
S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10
18200 18200 18200 18200 18200 18200 18200 18200
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. - S/. - S/. - S/. - S/. - S/. - S/. - S/. -
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00
S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00
S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00
S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05
S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95
S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95
0.64 0.63 0.63 0.62 0.62 0.61 0.60 0.60
S/. 202.62 S/. 200.54 S/. 198.47 S/. 196.43 S/. 194.42 S/. 192.42 S/. 190.44 S/. 188.48
 5 Ao
51 52 53 54 55 56 57 58
S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00 S/. 1,820.00
S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10 S/. 0.10
18200 18200 18200 18200 18200 18200 18200 18200
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. - S/. - S/. - S/. - S/. - S/. - S/. - S/. -
S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00 S/. 1,494.00
S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00 S/. 326.00
S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00 S/. 125.00
S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00 S/. 201.00
S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05 S/. 10.05
S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95 S/. 190.95
S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95 S/. 315.95
0.59 0.58 0.58 0.57 0.57 0.56 0.55 0.55
S/. 186.54 S/. 184.63 S/. 182.73 S/. 180.85 S/. 178.99 S/. 177.15 S/. 175.33 S/. 173.53
 59 60
S/. 1,820.00 S/. 1,820.00
S/. 0.10 S/. 0.10
18200 18200
S/. 1,494.00 S/. 1,494.00
S/. - S/. -
S/. 1,494.00 S/. 1,494.00
S/. 326.00 S/. 326.00
S/. 125.00 S/. 125.00
S/. 201.00 S/. 201.00
S/. 10.05 S/. 10.05
S/. 190.95 S/. 190.95
S/. 315.95 S/. 315.95
0.54 0.54
S/. 171.75 S/. 169.98
CASO N 1

EMPRESA ABC HA SOLICITADO UN CRDITO DE S/. 5000 PARA MEJORAR SU CAPITAL DE TRABAJO. LA EVALUACI
BUENA PAGADORA PERO TIENE UN CRDITO EN OTRA INSTITUCIN FINANCIERA QUE OBLIGA PAGAR UNA CUOT
GARANTAS QUE OFRECER. EL ANALISIS DE FLUJO DE CAJA ES DE S/. 780. SE SABE QUE LA INFLACIN ES DE 1
EFECTIVA ES DE 2.5%. (1) DETERMINAR SI SE LE OTORGAR EL CREDITO, (2) CUAL ES EL MONTO A OTORGAR
CRONOGRAMA DE PAGOS Y (4) EL PERIODO DE PAGO.

RESPUESTA (3).
PLANTILLA

Capital K S/. 2,500.00 FINANCIERA "YA FUISTE"

Tasa de inters i 5.5% CRONOGRAMA DE PAGOS
Periodo n 12 Cliente: Empresa ABC
Cuota P S/. -152.57 Monto Crdito: S/. 2,500.00
RESPUESTA (2). El monto a
otorgar es de S/.2500 PERIODO CUOTA
porque al disminuir el flujo
de caja (por el otro 1 S/. -152.57
prestamo que mantiene 2 S/. -152.57
con otra I.F) tienes menos
accesa 3 S/. -152.57
bilidad a un prestamo de 4 S/. -152.57
S/.5000.
RESPUESTA (4). La cuota 5 S/. -152.57
es igual a la diferencia 6 S/. -152.57
entre el flujo de caja
(S/.780) y la cuota que 7 S/. -152.57
mantiente con la otra 8 S/. -152.57
Institucin Financiera
(S/.450). Es decir la CUOTA 9 S/. -152.57
(P) es igual o menor a 10 S/. -152.57
S/.330. Entonces,
tanteando con la formula, 11 S/. -152.57
el periodo es de 12 meses, 12 S/. -152.57
y la cuota final es de
S/.290 que est en el
rango establecido
anteriormente.

INFLACIN (opcional)

Periodo 1/1/2015 12/31/2015

Monto S/. 2,500.00 S/. 2,500.00

Tasa de Inflacin 1.5% V. Nominal S/. 2,500.00

Deflactor 1.015 V. Real S/. 2,463.05
Prdida S/. 36.95
U CAPITAL DE TRABAJO. LA EVALUACIN POR EL ANALISTA ES
NCIERA QUE OBLIGA PAGAR UNA CUOTA DE S/.450 Y TIENE
. SE SABE QUE LA INFLACIN ES DE 1.5% Y LA TASA REAL
, (2) CUAL ES EL MONTO A OTORGAR , (3) ELABORAR EL

FINANCIERA "YA FUISTE"

AMORTIZACIN INTERES SALDO

S/. -290.07 S/. 137.50 S/. 2,790.07
S/. -306.03 S/. 153.45 S/. 3,096.10
S/. -322.86 S/. 170.29 S/. 3,418.96
S/. -340.62 S/. 188.04 S/. 3,759.57
S/. -359.35 S/. 206.78 S/. 4,118.92
S/. -379.11 S/. 226.54 S/. 4,498.04
S/. -399.97 S/. 247.39 S/. 4,898.00
S/. -421.96 S/. 269.39 S/. 5,319.97
S/. -445.17 S/. 292.60 S/. 5,765.14
S/. -469.66 S/. 317.08 S/. 6,234.79
S/. -495.49 S/. 342.91 S/. 6,730.28
S/. -522.74 S/. 370.17 S/. 7,253.02

TASA DE INTERS TASA REAL INFLACIN RIESGO

5.5% 2.5% 1.5% 1.5%

RESPUESTA (1). El riesgo a asumir es de

1.5%, porque a pesar que es un buen
pagador, tiene poca liquidez en el flujo de
caja mensual. Por ello, SI se decide otorgar
un prstamo slo de S/.2500.
RESPUESTA (1). El riesgo a asumir es de
1.5%, porque a pesar que es un buen
pagador, tiene poca liquidez en el flujo de
caja mensual. Por ello, SI se decide otorgar
un prstamo slo de S/.2500.
 PERIODO DOMINGOLUNES MARTES MIERCOLES JUEVES
RUBRO 1 3 4 5
INGRESOS S/. 80.00 S/. - S/. - S/. 1.00 S/. -
PROPINA UNIVERSITARIA S/. 80.00
TRABAJO
ALMUERZO S/. 1.00
EGRESOS S/. - S/. 54.40 S/. 4.40 S/. 4.40 S/. 5.40
PASAJES PABLITOS S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00
PASAJES COLECTIVO S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.40
COPIAS (LESCTURAS) S/. 1.00
REUNION (TESIS)
AHORRO
REGALO
COMPUTACION S/. 50.00
F.C.E. ### S/. -54.40 S/. -4.40 S/. -3.40 S/. -5.40
F.C.E.F ### S/. 25.60 S/. 21.20 S/. 17.80 S/. 12.40
VIERNES SABADO DOMINGO LUNES MARTES MIERCOLESJUEVES VIERNES
6 7 8 9 10 11 12 13
S/. 1.00 S/. - S/. 30.00 S/. - S/. 201.00 S/. - S/. - S/. 1.00
S/. 30.00
S/. 200.00
S/. 1.00 S/. 1.00 S/. 1.00
S/. 4.40 S/. 9.00 S/. - S/. 4.40 S/. 4.40 S/. 7.60 S/. 5.40 S/. 4.40
S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00
S/. 2.40 S/. 2.70 S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.40
S/. 1.00
S/. 3.20
S/. 4.30

S/. -3.40 S/. -9.00 S/. 30.00 S/. -4.40 S/. 196.60 S/. -7.60 S/. -5.40 S/. -3.40
S/. 9.00 S/. - S/. 30.00 S/. 25.60 S/. 222.20 S/. 214.60 S/. 209.20 S/. 205.80
SABADO DOMINGO LUNES MARTES MIERCOLEJUEVES VIERNES SABADO
14 15 16 17 18 19 20 21
S/. - S/. 30.00 S/. 1.00 S/. - S/. - S/. 1.00 S/. - S/. -
S/. 30.00

S/. 1.00 S/. 1.00

S/. 205.80 S/. - S/. 4.40 S/. 4.40 S/. 4.40 S/. 5.40 S/. 4.40 S/. 9.00
S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00
S/. 2.70 S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.70
S/. 1.00

S/. 151.10 S/. 4.30

S/. 50.00

S/. -205.80 S/. 30.00 S/. -3.40 S/. -4.40 S/. -4.40 S/. -4.40 S/. -4.40 S/. -9.00
S/. - S/. 30.00 S/. 26.60 S/. 22.20 S/. 17.80 S/. 13.40 S/. 9.00 S/. -
DOMINGO LUNES MARTES MIERCOLESJUEVES VIERNES SABADO DOMINGO
22 23 24 25 26 27 28 29
S/. 30.00 S/. 1.00 S/. - S/. - S/. 1.00 S/. - S/. - S/. 30.00
S/. 30.00 S/. 30.00

S/. 1.00 S/. 1.00

S/. - S/. 4.40 S/. 4.40 S/. 7.60 S/. 5.40 S/. 4.40 S/. 5.80 S/. -
S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00
S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.70
S/. 1.00
S/. 3.20
S/. 1.10

S/. 30.00 S/. -3.40 S/. -4.40 S/. -7.60 S/. -4.40 S/. -4.40 S/. -5.80 ###
S/. 30.00 ### S/. 22.20 S/. 14.60 S/. 10.20 S/. 5.80 S/. - ###
LUNES MARTES MIERCOLESJUEVES VIERNES SABADO
30 24 25 26 27 28
S/. 1.00 S/. - S/. - S/. 1.00 S/. - S/. -

S/. 1.00 S/. 1.00

S/. 4.40 S/. 4.40 S/. 7.60 S/. 5.40 S/. 4.40 S/. 5.80
S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00 S/. 2.00
S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.40 S/. 2.70
S/. 1.00
S/. 3.20
S/. 1.10

S/. -3.40 S/. -4.40 S/. -7.60 S/. -4.40 S/. -4.40 S/. -5.80
S/. 26.60 S/. 22.20 S/. 14.60 S/. 10.20 S/. 5.80 S/. -
 1 Ao
Periodo Mensual 0 1 2 3
INGRESOS S/. - S/. 1,500.00 S/. 1,600.00 S/. 1,800.00
Ventas S/. - S/. 1,500.00 S/. 1,600.00 S/. 1,800.00
EGRESOS S/. 3,200.00 S/. 950.00 S/. 1,000.00 S/. 1,100.00
Inversin S/. 3,200.00
Costo Fijo S/. 500.00 S/. 500.00 S/. 500.00
Costos Variable S/. 450.00 S/. 500.00 S/. 600.00
FLUJO ECONOMICO S/. -3,200.00 S/. 550.00 S/. 600.00 S/. 700.00
Financiamiento S/. 1,600.00
Amortzacion #REF! #REF! #REF!
Inters #REF! #REF! #REF!
Esc. Trib. Del Inters
FLUJO DE CAJA FINANCIERO S/. -1,600.00 #REF! #REF! #REF!
S/. -3,200.00 S/. -2,650.00 S/. -2,050.00 S/. -1,350.00

COK 2.8% COK

Creacin de rVANE S/. 1,282.66 VANE
TIR 12.37% TIR
PRK PRK

TASA DE INTERS TASA REAL INFLACIN RIESGO

2.8% 1.5% 0.3% 1.0%
1 Ao
4 5 6
S/. 2,000.00 S/. 2,300.00 S/. 2,500.00 FINANCIERA "No s"
S/. 2,000.00 S/. 2,300.00 S/. 2,500.00 CRONOGRAMA DE PAGOS
S/. 1,150.00 S/. 1,220.00 S/. 1,280.00 Cliente: Empresa ABC
Monto Crdit ###
S/. 500.00 S/. 500.00 S/. 500.00
S/. 650.00 S/. 720.00 S/. 780.00 PERIODO CUOTA AMORTIZACIN
S/. 850.00 S/. 1,080.00 S/. 1,220.00 1 S/. 230.97 S/. 180.97
2 S/. 230.97 S/. 160.02
#REF! #REF! 3 S/. 230.97 S/. 168.02
#REF! #REF! 4 S/. 230.97 S/. 176.43

#REF! #REF! S/. 1,220.00 5 S/. 230.97 S/. 185.25

S/. -500.00 S/. 580.00

0.0%
NCIERA "No s"

INTERES SALDO
S/. 50.00 S/. 1,419.03
S/. 70.95 S/. 1,259.00 S/. 230.97
S/. 62.95 S/. 1,090.98
S/. 54.55 S/. 914.55

S/. 45.73 S/. 729.30

 La empresa AVCOLA "El pollo frito" viene operando ms de 2 aos en el mercado del norte pe
solicitando un crdito de 180.000 para ampliacin de planta en infraestructura. Lo quiere pa
parmetros haciendo una visita concienzuda al negocio: La empresa tiene un producto princ
ganancia del 12%. Existen dos calidades: Pollos calidad A y calidad B. Los primero 4 meses de
calidad B un promedio de S/. 25.000. en los siguientes meses de ao, en la calidad A las ventas
posibilidad del crdito.

1 Ao
Periodo Mensual 0 1 2
INGRESOS S/. - S/. 55,000.00 S/. 55,000.00
Ventas A S/. - S/. 30,000.00 S/. 30,000.00
Ventas B S/. 25,000.00 S/. 25,000.00
EGRESOS S/. - S/. 48,400.00 S/. 48,400.00
Inversin
Costos S/. 48,400.00 S/. 48,400.00
FLUJO ECONOMICO S/. - S/. 6,600.00 S/. 6,600.00
Financiamiento S/. 180,000.00
Amortizacion S/. 12,327.11 S/. 12,758.56
Inters S/. 6,300.00 S/. 5,868.55
Esc. Trib. Del Inters
FLUJO DE CAJA FINANCIERO S/. 180,000.00 S/. -12,027.11 S/. -12,027.11
S/. - S/. 6,600.00 S/. 13,200.00

RECHAZADO
120
 os en el mercado del norte peruano. Se ha presentaod a la financiera "Dinero fcil"
en infraestructura. Lo quiere pagar en 1 ao. El analista ha estimado los siguientes
mpresa tiene un producto principal de venta de pollos, con un margen promedio de
dad B. Los primero 4 meses de la calidad A se vende un promedio de S/. 30.000 y de
ao, en la calidad A las ventas son de S/. 34.000 y de S/. 28.000. Se pide analizar la
posibilidad del crdito.

1 Ao
3 4 5 6 7 8 9 10
S/. 55,000.00 S/. 55,000.00 S/. 62,000.00 S/. 62,000.00 S/. 62,000.00 S/. 62,000.00 S/. 62,000.00 S/. 62,000.00
S/. 30,000.00 S/. 30,000.00 S/. 34,000.00 S/. 34,000.00 S/. 34,000.00 S/. 34,000.00 S/. 34,000.00 S/. 34,000.00
S/. 25,000.00 S/. 25,000.00 S/. 28,000.00 S/. 28,000.00 S/. 28,000.00 S/. 28,000.00 S/. 28,000.00 S/. 28,000.00
S/. 48,400.00 S/. 48,400.00 S/. 54,560.00 S/. 54,560.00 S/. 54,560.00 S/. 54,560.00 S/. 54,560.00 S/. 54,560.00

S/. 48,400.00 S/. 48,400.00 S/. 54,560.00 S/. 54,560.00 S/. 54,560.00 S/. 54,560.00 S/. 54,560.00 S/. 54,560.00
S/. 6,600.00 S/. 6,600.00 S/. 7,440.00 S/. 7,440.00 S/. 7,440.00 S/. 7,440.00 S/. 7,440.00 S/. 7,440.00

S/. 13,205.11 S/. 13,667.29 S/. 14,145.64 S/. 14,640.74 S/. 15,153.17 S/. 15,683.53 S/. 16,232.45 S/. 16,800.59
S/. 5,422.00 S/. 4,959.82 S/. 4,481.47 S/. 3,986.37 S/. 3,473.94 S/. 2,943.58 S/. 2,394.66 S/. 1,826.52

S/. -12,027.11 S/. -12,027.11 S/. -11,187.11 S/. -11,187.11 S/. -11,187.11 S/. -11,187.11 S/. -11,187.11 S/. -11,187.11
S/. 19,800.00 S/. 26,400.00 S/. 33,840.00 S/. 41,280.00 S/. 48,720.00 S/. 56,160.00 S/. 63,600.00 S/. 71,040.00

Slo se puede otorgar un prestamo de S/.30000 en los 12 meses

 11 12
S/. 62,000.00 S/. 62,000.00
S/. 34,000.00 S/. 34,000.00
S/. 28,000.00 S/. 28,000.00
S/. 54,560.00 S/. 54,560.00

S/. 54,560.00 S/. 54,560.00

S/. 7,440.00 S/. 7,440.00

S/. 17,388.61 S/. 17,997.21

S/. 1,238.50 S/. 629.90

S/. -11,187.11 S/. -11,187.11

S/. 78,480.00 S/. 85,920.00
 PLANTILLA

Capital K S/. 180,000.00 F

Tasa de inter i 3.5% CRONOGRAMA DE PAGOS
Periodo n 12 Cliente:
Cuota P S/. 18,627.11 Monto Crdito:

PERIODO
1
2
3
4
5
6
7
8
9
10
11
12
 FINANCIERA "YA FUISTE"
GRAMA DE PAGOS
Empresa ABC
S/. 180,000.00

CUOTA AMORTIZACIN INTERES SALDO

S/. 18,627.11 S/. 12,327.11 S/. 6,300.00 S/. 167,672.89
S/. 18,627.11 S/. 12,758.56 S/. 5,868.55 S/. 154,914.33
S/. 18,627.11 S/. 13,205.11 S/. 5,422.00 S/. 141,709.22
S/. 18,627.11 S/. 13,667.29 S/. 4,959.82 S/. 128,041.93
S/. 18,627.11 S/. 14,145.64 S/. 4,481.47 S/. 113,896.29
S/. 18,627.11 S/. 14,640.74 S/. 3,986.37 S/. 99,255.55
S/. 18,627.11 S/. 15,153.17 S/. 3,473.94 S/. 84,102.38
S/. 18,627.11 S/. 15,683.53 S/. 2,943.58 S/. 68,418.85
S/. 18,627.11 S/. 16,232.45 S/. 2,394.66 S/. 52,186.40
S/. 18,627.11 S/. 16,800.59 S/. 1,826.52 S/. 35,385.82
S/. 18,627.11 S/. 17,388.61 S/. 1,238.50 S/. 17,997.21
S/. 18,627.11 S/. 17,997.21 S/. 629.90 S/. -0.00